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Develop an Action Plan for 2010.

Article Excerpt
Develop an Action Plan for 2010

By Jesse Morado, CR, CAPS

Planning for the coming year should include diversification into other job types as well as finding new ways to drive leads

There has been some positive movement in the housing market over the last three months and some are saying we've finally hit the bottom of the economic downturn. But most acknowledge that we are not out of the woods. This weak economy still has many remodeling companies with their backs against the wall. Homeowners remain uneasy about taking on major projects due to sliding home values, rising unemployment and stricter lending practices.

This recession has had other impacts. It has created a new paradigm in consumer spending behavior. Price is now a top priority with many consumers and the result is a move away from larger remodeling projects. The shift away from larger projects continues to plague many design-build remodelers, who had come to rely on bigger projects. Many of these remodelers have worked hard to cut costs, farm for new leads and in many places have struggled to simply keep their businesses open this year.

The challenging environment combined with, for many, running a company in survival mode has made it difficult to...

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